Forex news for Asia trading Tuesday 4 August 2020
- New Jersey Gov. Murphy has declared a state of emergency ahead of Hurricane Isaias
- One for the NZD traders - dairy auction coming up on Tuesday
- US VP Pence says a COVID-19 vaccine could be available this Fall
- The 3 primary drivers of the higher gold price
- Australia Retail Sales for June 2.7% m/m (expected +2.4%)
- Australia trade balance for June AUD 8.202bn surplus(expected AUD 8.8bn)
- More from Fed's Evans on the US economy, Federal Reserve policy
- PBOC sets USD/ CNY reference rate for today at 6.9803 (vs. yesterday at 6.9980)
- FX option expiries for Tuesday August 04 at the 10am NY cut
- Global Times suggests that China will expel US journalists in Hong Kong
- Australian new coronavirus cases, Victoria said to have 439 cases added today
- An ICYMI on another promising COVID-19 treatment - RLF-100 helps critically ill
- US issues warning on Hurricane Isaias to hit mid-Atlantic coast
- More on Bank of Japan Governor Kuroda extending the Bank's support further
- Tokyo headline inflation for July 0.6% vs. 0.3% expected
- Australia weekly consumer confidence 88.6 (prior 89.0)
- Regeneron said COVID-19 combination it is developing prevented and treated the infection in animals testing
- Here is more on North Korea has 'probably' developed nuclear devices to fit ballistic missiles
- A group of crypto investors lost their money in a scam, so they launched their own to recoup the losses
- WHO head says on coronavirus - there's no silver bullet - and there might never be"
- EUR/USD move suggestive of an exhausted near term trend - support and resistance levels to note
- Pelosi does not expect a deal on US coronavirus economic relief this week
- Fed's Evans comments on inflation, rates, fiscal support
- Trade ideas thread - Tuesday 4 August 2020
- Argentina to restructure about $65 billion in foreign debt
- Morgan Stanley expect the weaker USD to provide less support for EM currencies
- Pelosi confirms US coronavirus economic rescue package talks to continue Tuesday
- Meadows says its not a valid question whether Republicans would support coronavirus package
t was less eventful than Monday here in Asia FX trade with only a minor move higher for USD/JPY, to circa 106.20 (just under) as I post and similarly lacklustre ranges for other currencies. As I post the US dollar is slipping a little nearly across the board.
US afternoon news flow was, as has been the usual case lately, dominated by various comments regarding the negotiations surrounding the next tranche of economic aid for the coronavirus impacted economy. Perhaps of most note was US House Leader Pelosi saying she did not expect a deal to be reach this week (saying this and its only Monday - in the US - is not promising).
On the coronavirus vaccine front I posted on a treatment (not a vaccine) that shows some promise (see post above re RLF-100) although we do await more news on this.
Data releases were non-impactful on FX movement.
Still to come, due at 0430GMT, is the August meeting statement from the Reserve Bank of Australia, previews:
- AUD traders heads up - RBA monetary policy meeting Tuesday - preview
- AUDUSD rebounds off lows ahead of RBA rate decision in the new day
- RBA policy meeting likely to leave interest cash rate unchanged - preview
- RBA monetary policy meeting today - to leave cash rate unchanged - preview
